Cambridge, MA-based Vestigo Ventures Leads a $3.2M Syndicated Investment in Roots Automation to Expand AI Capabilities and Accelerate Customer Acquisition
Roots Automation, the NYC-based Digital Coworkers as a Service company, has raised a $3.2M seed round led by Vestigo Ventures. Launched by Chaz Perera and John Cottongim, Roots Automation aims to empower companies to free their ‘roots’ – their people – to focus on meaningful and impactful work.
“Vestigo Ventures has been incredible throughout our seed funding journey and we’re extremely thankful for their support,” said Co-Founder and CEO, Chaz Perera. “The partnership between Vestigo Ventures and Roots Automation is the ideal combination of enterprise technology and startup expertise – together, we’ll continue to fuel growth opportunities instead of mundane tasks for our customers.”
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Vestigo Ventures is an early-stage startup venture capital fund specifically for insurance and financial technology companies. Leading the investment were Ian Sheridan and Mike Nugent, both MDs at Vestigo, who have a proven track record as operators, entrepreneurs and investors.
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“We are excited to be part of the Roots Automation journey with Chaz and John, two experienced leaders with the vision and technology for our time,” said Ian Sheridan, Co-Founder and Managing Director of Vestigo Ventures. “The pandemic has disrupted multiple industries and we see a new sense of urgency to modernize, design & delight, and improve the outcome for businesses while making operations safer – the Roots Automation platform is materializing at the ideal time!”
With the capital infused into Roots Automation, the company can accelerate the development of its proven cognitive process automation technology called Digital Coworkers. A great deal of the investment will also lend itself to rapid customer acquisition across financial services, insurance and healthcare verticals.
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